Bithumb Exchange Hack Update Claims To Have Retrieved $14 Million USD of $31 Million Stolen


Bithumb Claims To Have Retrieved $14 Million USD Which Was Stolen By Hackers

It looks like Bithumb, one of the largest cryptocurrency exchanges in South Korea, has halved its losses after a recent cryptocurrency hacking attack. The attack happened on June 20 and about $35 billion Korean Won (which is $31 million USD) were stolen by the hackers.

Fortunately, the exchange has recently released the information to the media that the damage was halved because $19 billion Won ($17 million USD) have been returned after the company has collaborated with exchanges from all over the world to retrieve funds and to take action to prevent further losses from the event.

Bitcoin Was The Largest Loss During the Bithumb Hacking Attack

During the report that was released by the company, it was clear that Bitcoin was the token that made the harshed loss for the company. A total of 11 different types of crypto were stolen during the security breach and 2,016 BTC were taken. At the time of the theft, the money was worth $12 million USD.

Other important losses that the company suffered were 2,219 Ethereum ($950,000 USD), 5.2 million Ripple ($2.4 million USD) and 692 Bitcoin Cash ($487,000 USD). Other tokens were less significant in price than these ones but they include Golem tokens, Kyber Network and AELF tokens.

The Investigation Is Not Yet Concluded

The company has stated that the investigations are still ongoing and that the services will only be normalized after the exchange has already finished them. Until them, no users are able to deposit or to withdraw funds from the exchange.

As a result of this actions, the trading volume of the company has plummeted. Bithumb had a daily volume of $400 million USD before the hacking attack and the data, which was taken from CoinMarketCap, shows that the current volume is $124 million US daily. Services are expected to improve after the end of the investigations.

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